Azzad Asset Management Inc. ADV Increases Stock Position in Ferguson plc $FERG

Azzad Asset Management Inc. ADV lifted its holdings in shares of Ferguson plc (NYSE:FERG) by 40.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,939 shares of the company’s stock after buying an additional 6,307 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Ferguson were worth $4,927,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. True Wealth Design LLC raised its position in Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after acquiring an additional 77 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Ferguson by 178.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock worth $31,000 after purchasing an additional 82 shares in the last quarter. Hemington Wealth Management grew its stake in shares of Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares during the period. Quent Capital LLC purchased a new position in shares of Ferguson in the 3rd quarter valued at about $43,000. Finally, Harbour Investments Inc. lifted its stake in shares of Ferguson by 61.3% in the second quarter. Harbour Investments Inc. now owns 242 shares of the company’s stock valued at $53,000 after purchasing an additional 92 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FERG shares. Wall Street Zen lowered shares of Ferguson from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price target on Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a research note on Thursday, December 11th. Wells Fargo & Company raised their price objective on Ferguson from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferguson in a report on Thursday, January 8th. Finally, Vertical Research assumed coverage on Ferguson in a report on Monday, October 20th. They issued a “buy” rating and a $291.99 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

Ferguson Price Performance

FERG stock opened at $262.77 on Friday. The stock’s 50 day moving average price is $239.73 and its 200 day moving average price is $236.36. The firm has a market cap of $51.38 billion, a P/E ratio of 26.54, a PEG ratio of 2.18 and a beta of 1.18. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $263.34.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.07. Ferguson had a return on equity of 35.73% and a net margin of 6.28%.The company had revenue of $8.17 billion during the quarter. During the same period in the previous year, the business posted $2.45 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis.

Ferguson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, January 2nd will be given a dividend of $0.89 per share. The ex-dividend date is Friday, January 2nd. This represents a $3.56 dividend on an annualized basis and a yield of 1.4%. This is a boost from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s dividend payout ratio (DPR) is 35.96%.

More Ferguson News

Here are the key news stories impacting Ferguson this week:

• Neutral Sentiment: Celebrity interviews and human-interest items about Rebecca Ferguson — entertainment coverage with no connection to Ferguson plc; negligible impact on the stock. Rebecca Ferguson opens up
• Neutral Sentiment: Reporting on Rebecca Ferguson describing an on-set incident — celebrity press, no corporate relevance to FERG. Rebecca Ferguson on on-set incident
• Neutral Sentiment: Local reporting that the city of Ferguson is seeing a downward trend in crime — municipal news, not related to the UK/US industrial distributor Ferguson plc. Ferguson facing downward trend in crime
• Negative Sentiment: Multiple tabloid/coverage items concerning Sarah Ferguson and recent Epstein-file revelations — these stories could generate short-term name-recognition noise or media confusion for investors seeing the “Ferguson” name, but they do not relate to Ferguson plc’s operations, earnings or financial outlook. Expect negligible fundamental impact unless headlines cause measurable brand confusion in investor communications. PR expert says this move would be “career suicide” Sarah Ferguson has a ‘housing crisis’ Sarah Ferguson Done Protecting Ex-Prince Andrew Key revelations about Sarah Ferguson in Epstein files

About Ferguson

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.